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Palm oil falls on weaker rival oils, crude; gains 1.7% for the week
JAKARTA: Malaysian palm oil futures closed lower on Friday, tracking weaker rival edible oils on the Dalian and Chicago exchanges, as well as crude oil, but still posted a weekly gain. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell 38 ringgit, or 0.77%, to 4,898 ringgit ($1,200.49) a metric ton at the close. The contract gained 1.74% for the week. “FCPO futures remained in negative territory on Friday, mirroring selling pressure across the broader commodity complex during Asian trading hours,” a Kuala Lumpur-based trader said. Dalian’s mos...
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